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Denver Foreclosures Sales Plummet but Prices Rise

$2 Million in Excess Funds Returned to Homeowners

DENVER — Denver may have the lowest foreclosure rate in the nation, but the homes that do go to auction are selling at higher prices. Denver Clerk and Recorder Debra Johnson already returned more than $2 million in excess funds to foreclosed-upon homeowners in 2017. The difference between what the property sells for and what is owed is called excess funds.

According to a CoreLogic report for August 2017, the Denver-Aurora-Lakewood area was one of 11 metro areas with a .1 percent foreclosure inventory rate.

“Despite the hot housing market in Denver, some homes still go into foreclosure,” said Clerk Johnson who also serves as Public Trustee for the City and County of Denver. “We believe that the excess funds belong to the homeowner and can make a big difference in helping them restart their lives.

“Getting that money into their hands quickly is important to us. People have gone through such a rough time, they don’t always stay in touch with us to find out if they have excess funds,” Johnson said. “If you know someone who has gone through foreclosure, please have them check our website.”

Through October 31, 2017:

  • $2,379,500 in excess funds returned to foreclosed-upon homeowners
  • 545 new foreclosure cases were filed in Denver
  • 10 percent decrease from the same timeframe in 2016
  • 46 properties sold at auction to a third party (not returned to the bank)
  • 54 decrease from the same timeframe in 2016
  • $612,159 in unclaimed excess funds turned over to The Great Colorado Payback in 2017

In 2016, the foreclosure rate went up in Denver. This was the first time since the bottom of the real estate market in 2007 that the rate increased.

A list of people with unclaimed excess funds is available on the clerk’s website: www.DenverClerkAndRecorder.org.